NEW DELHI: Shares of DLF, Indiabulls Housing and Apollo Tyres extended losses on Tuesday after Finance Minister Arun Jaitley after consulting with Prime Minister Narendra Modi set up a group to probe 500 Indians, including the promoters of the said companies, in the light of the Panama Paper leaks.

The group comprises agencies like CBDT, RBI and FIU (Financial Intelligence Unit), which will probe whether these 500 individuals stashed money abroad.

At 2.30 AM, shares of DLF were trading 3.58 per cent lower at Rs 114.40. The stock had fallen 1.82 per cent in the previous session.

Indiabulls Real Estate tanked 5.54 per cent to Rs 53.75. This was in addition to the 1.56 per cent fall in the previous session. Apollo Tyres lost 2.98 per cent to Rs 166.15, in addition to 1.81 per cent fall in the previous session.

On Monday, Modi ordered a multi-agency probe team on the expose conducted by the International Consortium of Investigative Journalists (ICIJ) along with over 100 global media organisations, PTI reported.

"A multi-agency group is being formed to monitor the black money trail," the agency quoted Finance Minister Arun Jaitley as saying. "Details of assets worth Rs 6,500 crore have already been found," Jaitley said.

Panama Papers are a part of secret files of Mossack Fonseca, a law firm headquartered in tax haven Panama, known for its factory-like production of offshore companies for its worldwide clientele, a leading daily reported.